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Author Topic: 1000 copper pennies, bullion  (Read 1013 times)
northlake
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July 18, 2012, 09:51:37 PM
 #1

$10 face in pre-82 US pennies, for 2.25 BTC (shipping to continental US is included in that price, local pickup in Lansing, MI for 1.8 BTC).

Based on $3.4537/lb copper price, these have a melt value of $22.4955.

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silverbox
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July 18, 2012, 11:00:31 PM
 #2

Hand sorted?
northlake
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July 18, 2012, 11:22:17 PM
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yep, 100% US pennies, no canadians.

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July 18, 2012, 11:39:28 PM
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Nice, a few years back I hand sorted $50 of pre '82s at night while I watched TV.. lol.  Then I got bored Smiley
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July 18, 2012, 11:46:57 PM
 #5

Why would anyone pay 2.25BTC or $20.82 for $10 of pennies when the melt value is $22.50? I will cost a lot more than $1.68 to melt and sell the copper.

You can get pennies for melting for 1.5X face.
northlake
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July 19, 2012, 12:07:02 AM
 #6

1.5x face with shipping included?

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Cablez
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July 19, 2012, 12:30:39 AM
 #7

Just curious, isn't it illegal to melt pennies?

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July 19, 2012, 12:33:32 AM
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Yes and you can even get prison for it if you are dumb. Not for that amount...

I don't really get the whole resource scraping thing... heck there are people buying old pcbs for the gold ruining their lungs with toxic fumes  Roll Eyes

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northlake
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July 19, 2012, 01:14:47 AM
 #9

It is illegal to melt. But copper is copper, and it might not be illegal forever (if pennies are discontinued, in the case of societal breakdown, etc.)

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July 19, 2012, 01:29:19 AM
 #10

It is illegal to melt. But copper is copper, and it might not be illegal forever (if pennies are discontinued, in the case of societal breakdown, etc.)
Or if you run a forge in your backyard with a leafblower and some charcoal. Grin

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Cablez
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July 19, 2012, 01:38:58 AM
 #11

Ah I get it, hush hush and all that. Cool

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July 19, 2012, 03:25:42 AM
 #12

Just curious, isn't it illegal to melt pennies?

It's bullion, you don't have to melt it to resell it. Unless you're making a copper pipe, why would you bother? Do you melt your gold before you sell it?
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July 19, 2012, 12:16:04 PM
 #13

I guess the thinking goes that the copper is worth more as something else than $10 in pennies.

Tired of substandard power distribution in your ASIC setup???   Chris' Custom Cablez will get you sorted out right!  No job too hard so PM me for a quote
Check my products or ask a question here: https://bitcointalk.org/index.php?topic=74397.0
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